16, 2020 Globe Newswire july
CALGARY, Alberta вЂ“ Petrus Resources Ltd. (вЂњPetrusвЂќ or the вЂњCompanyвЂќ) (TSX: PRQ) is happy to announce the concurrent expansion of their 2nd lien term loan (вЂњTerm LoanвЂќ) and Revolving Credit center (вЂњRCFвЂќ) and also the conclusion of this RCF lendersвЂ™ 2020 annual review. The CompanyвЂ™s board of directors in addition has authorized its 3rd quarter 2020 money spending plan.
2ND LIEN TERM LOAN EXTENSION Petrus has entered into an amending contract with Macquarie Bank restricted to extend the $35 million Term Loan maturity date to July 31, 2021. The attention price in the Term Loan balance will likely be updated to be the Canadian https://speedyloan.net/personal-loans-va Dealer Offered Rate (вЂњCDORвЂќ) plus 975 foundation points. All the interest should be produced by method of paymentinkind (вЂњPIKвЂќ) and included with the outstanding stability associated with the Term Loan in place of payment per month of money interest. The definition of Loan extension comes with the elimination of the Total financial obligation to EBITDA ratio plus the Proved and PDP resource Coverage Ratios from the monetary covenants. Ler mais